in this last chart is an illustration of our current work with merser. as i mentioned, i want to increase our contribution to risk from stock selection and reduce the other factors like country style and sector. that concludes my remarks. if you have any questions, let me know. >> commissioners? >> i have a question on just the china strategy overall. with so much movement lately with the allocated, have you done kind of analysis of how how the returns of average out since our investment starting whenever the starting date would be to now and how is that? >> as i said over the five years, we added this strategies in 2017. and since inception they've been additive. >> including? >> with the last year. >> the last year? >> the last couple of years has been challenging. if you look at the index, that's been a detractor. and i also note with our global active extensive strategies, they can short. so that's also contributing to the positive overall affect over the longer term. and this will be highlighted in the investment committee of china. >> one other poi